Analysts at Standard & Poor’s Ratings Service (S&P) are asking themselves the same question that many in the energy industry are: “Will natural gas production ever come down?
Articles from Themselves
The Pennsylvania Department of Environmental Protection (DEP) is sending certification letters to approximately 80 operators in the state, asking them to certify by Aug. 29 that they have stopped delivering wastewater from Marcellus Shale gas drilling to municipal treatment facilities.
September natural gas managed a modest gain Wednesday as traders positioned themselves ahead of the weekly inventory report. For every trader anxious to cover a short position there seemed to be another willing initiate a new sale. At the close September had risen nine-tenths of a cent to $4.003 and October added nine-tenths of a cent as well to $4.024. September crude oil rebounded from steep losses in the last two sessions, adding $3.59 to $82.89/bbl.
There are more than oil/gas roughnecks benefiting from the growing boom in the Marcellus shale play; Pennsylvania banks are positioning themselves to share in the rewards, according to a report published in late June by an Arlington, VA-based investment bank, FBR Capital Markets.
Normally viewed as complementary, the natural gas and wind industries found themselves more at odds last week as the American Wind Energy Association (AWEA) kicked off its annual meeting in Anaheim, CA. Windpower 2011 was less bullish than in recent years in announcing growth in megawatts and jobs, and more adversarial on regional and national debates.
Normally viewed as complementary, the natural gas and wind industries found themselves more at odds Monday as the American Wind Energy Association (AWEA) kicked off its annual meeting in Anaheim, CA. Windpower 2011 was less bullish than in recent years in announcing growth in megawatts and jobs.
Laser Northeast Gathering Co. LLC’s wait to learn whether it can construct a gas gathering pipeline with “public utility” status in the heart of Pennsylvania’s Marcellus Shale country was extended Thursday when the Pennsylvania Public Utilities Commission (PUC) voted to remand the case to an administrative law judge (ALJ).
Major producers Thursday defended themselves against Senate Democrats’ claims that they don’t need the billions of dollars of federal tax breaks that they currently receive (see Daily GPI, May 12; May 4).
New Mexico’s Public Regulation Commission (PRC) on Tuesday issued a warning to natural gas consumers about scam artists who have misrepresented themselves as New Mexico Gas Co. representatives offering to restore utility service for a fee. New Mexico was caught in the extreme cold gripping the Southwest earlier this month, causing well freeze-offs and compressor failures due to power outages (see Daily GPI, Feb. 7). As a result, gas deliveries were curtailed to thousands of customers in New Mexico, Arizona and Southern California supplied through El Paso Natural Gas and Transwestern Pipeline. In New Mexico, where 24,000 customers had their gas services cut off, the PRC commissioners reported that scam artists emerged in the Espanola, NM, area. “Sadly, some unsavory individuals use emergency situations like this recent storm to prey on unsuspecting consumers,” said PRC Vice Chairman Jerome Block, who urged gas consumers to contact local law enforcement authorities if they are approached by someone trying to restore gas service for a fee. The PRC said most gas service had been restored in the Taos area, but outages remained in the Espanola area.
March natural gas futures rose in light trading Wednesday as traders positioned themselves prior to the release of government storage data Thursday, which is likely to show the second highest withdrawal of the season and be well above last year and five-year averages. At the close March added 8.2 cents to $4.429 and April gained 7.9 cents to $4.445. March crude oil rose 9 cents to $90.86/bbl.